Applying Morrison To Foreign-Cubed Claims By The SEC

Law360, New York (August 4, 2011, 1:05 PM EDT) -- On June 10, 2011, Judge Barbara Jones of the U.S. District Court for the Southern District of New York issued a decision in the case SEC v. Goldman Sachs & Co., No. 10-3229, that applied the Supreme Court’s Morrison v. National Australia Bank Ltd. decision to claims by the U.S. Securities and Exchange Commission under both the Securities Exchange Act of 1934 and the Securities Act of 1933. Goldman Sachs had previously settled the claims against it for $550 million, but left Fabrice Tourre, a Goldman...
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